BEIJING, June 24 (Reuters) - Chicago soybean futures

edged lower on Tuesday, weighed by favourable U.S. weather

conditions and falling soyoil prices after U.S. President Donald

Trump said a ceasefire has been agreed on between Iran and

Israel, reducing concerns over potential crude oil supply

disruptions.

Wheat also declined, pressured by benign weather and harvest

pressure, while corn slipped to a fresh low for the year.

FUNDAMENTALS

* The most-active soybean contract fell 0.14% to

$10.45-2/8 per bushel, as of 0128 GMT. Soyoil dropped

1.2% to 52.6 cents per pound.

* Wheat slid 0.79% to $5.65 a bushel, while corn

eased 0.12% to $4.18-6/8 a bushel, the lowest level in 2025.

* Oil prices tumbled on Tuesday to their lowest level in

more than a week after President Trump's ceasefire announcement.

Soyoil tends to track crude oil prices because it is used in

biofuel as a substitute for fossil fuel.

* Recent rains in the Midwest improved soil moisture ahead

of a weekend heat wave.

* Warm, wet weather is expected in the coming weeks -ideal

for crop growth in the U.S. corn belt, analysts said.

* U.S. corn ratings worsened over the past week but remained

the best in five years for this time of year, according to U.S.

government data.

* Soybean crop ratings held steady at 66% good to excellent,

but slightly below analyst expectations. Planting was 96%

finished as of Sunday, USDA said.

* Wheat conditions also fell below expectations - 49% of the

winter crop and 54% of the spring crop rated good to excellent.

* Harvest pressure continues - the winter wheat crop harvest

accelerated to 19% complete, up from 10% last week and just

below the average analyst estimate of 20%.

* Favourable harvest conditions in the U.S. Plains supported

winter wheat cutting, while spring wheat benefited from rains in

the north, according to weather forecaster Vaisala.

* Commodity funds were net sellers of Chicago Board of Trade

wheat, corn, soybean, soymeal and soyoil futures contracts on

Monday, traders said.

MARKET NEWS

Wall Street futures rose and the dollar eased in Asia on

Tuesday after President Trump said Iran and Israel had agreed to

a ceasefire, sending oil prices into a deep dive as concerns

over supply disruptions ebbed.

DATA/EVENTS (GMT)

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